Abhinandan (student) (407 Points)
04 January 2011Q1- case: Mr A who is a business man, has a son studying in an engineering college of India, the tuition fees is Rs 80000, can MR A claim deduction under section 80C(17) and if yes then what will be the amount of deduction?
Q2 Repayment of amount borrowed by the assessee from central govt or state govt or LIC or NATIONAL HOUSING BANK, IS IT DEDUCTIBLE FROM GROSS TOTAL INCOME ?
CA MAULIK
(C.A)
(937 Points)
Replied 04 January 2011
in first case yes subject to 100000 limit and only interest portion is deductible........
in second case also yes...........
CAclubindia
